By: Majed Al Shabeb
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Tuesday’s session in the red, on the back of the industrial investment sector.
The main index fell 0.53% or 35.11 points to 6,646.86 points.
The retreat witnessed in Tadawul on Tuesday is mainly attributed to the unexpected financial results of some companies, despite the good results of Al Rajhi Bank, technical analyst, Khaled Al Ghamdy told Mubasher.
He expected that the level of 6,650 points will become a resistance level in the coming period, which signals a probability for the downward trend to continue in the coming sessions.
The building and construction, and agriculture sectors were the only gainers rising 0.11% and 0.10%, respectively.
The industrial investment sector topped losers decreasing 2.34%, on the back of Saudi Arabian Mining Company (Maaden), which lost 3.98% to SAR 37.20.
The transport sector came in the second place falling 1%, while the petrochemicals and banks sectors shed 0.89% and 0.5, respectively.
The telecommunication sector marginally decreased 0.07%.
On the stocks level, 95 shares levelled down and 62 shares rose, backed by Red Sea Housing Services increasing 3.86% to SAR 28.
Traded value retreated to SAR 3.8 billion ($1.02 billion) from SAR 4.13 billion ($1.1 billion) on Monday. Traded volume was also down to 197 million shares from 224.86 million shares traded yesterday.
Al Inma Bank was the most active stock in terms of trading value and volume, achieving a turnover of SAR 567.8 million through trading 41 million shares. The bank closed at SAR 13.80, down 1.3%.
Translated by: Sara Ghali
